POUND NOTES
NEW £1 COIN ‘GOING GLOBAL’
THE new 12-sided £1 coin is “going global”, the Treasury has announced, as overseas territories and Crown dependencies will be able to design and mint their own versions of it.
The coin was introduced in
2017, and boasts features designed to thwart criminals trying to produce copies. The move means those living overseas may soon be able to spend the bespoke versions of the new pound coin, replacing the older coins currently in use.
To produce their own 12-sided £1-coin, overseas territories and Crown dependencies will inform the Royal Mint, who will ensure that the same security standards are met before approving and supplying them with the necessary blank or struck coins.
HOME OWNERS OVERPAYING
NEARLY half of home owners with a mortgage say they have been making overpayments on their home loan in recent months – potentially meaning they will be mortgagefree earlier than they had expected – a survey has found.
Young home owners, many of whom may have decades of paying a mortgage off ahead of them, are particularly likely to have been making overpayments, the survey of home owners from Which? Mortgage Advisers has found.
Paying off extra chunks of their mortgage could potentially help home owners to clear their debt earlier than they had originally planned – and some surveyed said they are chipping away at their mortgage debt in this way each month.
PAY RISE NOVELTY WEARS OFF FAST
THE novelty of a salary increase for UK workers wears off after just the first pay slip typically, research by Direct Line Life Insurance found.
UK employees who have received a pay rise within the last five years, take on average just six weeks to “level up” their spending habits after receiving a salary increase.
One in six (17%) of those getting a pay rise upgraded their lifestyle immediately.